The Australian share market is home to a good number of ASX mining shares that offer exposure to precious metals.
And while the companies that offer access to silver and platinum may not be truly investment grade, there certainly are a good number of quality options in the gold space.
Here are four ASX precious metal stocks that could be buys:
Precious metal stocks named as buys
Goldman Sachs believes that Evolution Mining Ltd (ASX: EVN) is a buy. It currently has a buy rating and a $3.80 price target on the gold miner's shares. This implies a potential upside of 6% from current levels.
The broker also likes fellow precious metal stock Regis Resources Ltd (ASX: RRL). It recently put a buy rating and $1.90 price target on its shares, which suggests a potential upside of 9.2% over the next 12 months.
Bigger gains could be on offer with Northern Star Resources Ltd (ASX: NST) shares according to analysts at Macquarie.
Late last month, the broker responded to the gold miner's better-than-expected quarterly update by retaining its outperform rating and $15 price target.
If this precious metal stock were to climb to that level, it would mean a sizeable gain of 32% for investors.
But that is nothing compared to the gains that Bell Potter expects from De Grey Mining Limited (ASX: DEG) shares. It is the gold developer behind the very promising Hemi Gold Project in Western Australia.
A recent note reveals that the broker has a buy rating and a $1.80 price target on De Grey Mining's shares. Based on its current share price of $1.19, this implies a potential upside of 51% for investors over the next 12 months.
